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Kodak accepts $525m patent offer

Company agrees on bid for imaging patents

Embattled imaging firm Kodak has agreed to accept a $525m offer from two intellectual property for its imaging patent portfolio.

The company said that it would be accepting the bid submitted by RPX Holdings and Intellectual Ventures, both firms specialise in the purchase and licencing of patent portfolios. Kodak also noted that 12 firms organised by Intellectual Ventures would be purchasing parts of the patent portfolio.

While Kodak did not say who the 12 companies in the group were, Apple may well be among those purchasing patents.

The company has been previously said to be among the companies who had teamed with Intellectual Ventures on a big for the Kodak holdings. Kodak also noted that the deal would settle current litigation, another indication that Apple, which has battled Kodak in court, was involved in the deal.

Previous reports have also linked Google to a possible bid on the patents.

Apple did not respond to a request for comment on the matter.

For Kodak, the deal is the latest step in an ongoing process to re-remerge from bankruptcy proceedings following the fall of its imaging business. The company announced the auction earlier this year as part of an effort to raise funds and climb out from its debts.

Kodak said that it hopes to re-launch its business in the first half of 2013.